[VIDEO] 7 Year US Treasury Auction may be a sign of trouble for the Fed
Joe Perry February 26, 2021 7:01 AM
What does this mean for the US economy? It means the Fed is in trouble.
The 7 Year US Treasury Action went horrible today. The bid to cover was 2.045, the lowest on record! In addition, Indirect bids fell to 38.06%.
As a result of the weak auction, bonds prices across the board fell and yields spiked. The closely watched 10-year yield spiked through 1.5 % on the results for the first time since February 21st, 2020 to a current high of 1.544%.
What does this mean for the US economy? It means the Fed is in trouble. The bond market has been telling us this for a while now, though Powell continues to say everything is fine.
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